When to Step In and Take Over an Older Parent’s Finances

Powers of attorney and trusted organizations are a big help

My mother is about to turn 80, and I’m increasingly worried about her ability to manage her money. My family and I are trying to figure out when and how to take on this responsibility, or at least provide some help. Have you written about this? Any advice?

This is a tricky subject, to say the least, and one that many of us are, or will be, grappling with. A recent study by Merrill Lynch and Age Wave found that 92% of caregivers provide some type of “financial caregiving”: paying bills on behalf of a family member, handling…

Read the article: When to Step In and Take Over an Older Parent’s Finances at The Wall Street Journal (You must have an account to read the article)